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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segment Reporting
The Company has two reportable segments, Sand and SmartSystems as of March 31, 2025. The Company evaluates its segment reporting on an ongoing basis. The Company does not currently provide asset information by reportable segment as it does not routinely evaluate the total asset position by segment. The Company’s operations in foreign countries are immaterial. The chief operating decision maker (“CODM”) is Charles Young, the Company’s chief executive officer. The CODM regularly
reviews the Company’s GAAP financial statements, as well as the non-GAAP reporting measures when considering the profit and loss of the company and uses this information in deciding how to allocate resources.
The Sand segment includes both frac sand sales and IPS sales. The sand production process begins the same way for each of these revenue streams. Frac Sand consists of four primary sizes of sand, called grades. IPS begins with these same frac sand grades and may contain additional sizes or custom blends of a variety of grades.
The SmartSystems segment revenue is primarily from the rental of our patented SmartSystems equipment and related services provided to customers. This segment offers customers portable wellsite storage and management solutions that enable customers to unload, store, and deliver proppant at the wellsite.
During the year ended December 31, 2024, four of the Company’s customers had revenues of more than 10%. Of these four customers, all had revenues only in the Sand Segment. The following tables present additional segment information for the three months ended March 31, 2025 and a reconciliation to amounts on the Consolidated Statement of Operations.
SandSmartSystemsTotal
Revenue$64,464 $1,094 $65,558 
Segment cost of goods sold
Logistics costs$36,240 $— $36,240 
Production costs19,164 — 19,164 
Depreciation, depletion, and accretion of asset retirement obligations6,022 550 6,573 
Other costs247 563 809 
Total cost of goods sold$61,673 $1,113 $62,786 
Gross profit$2,791 $(19)$2,772 
Total operating expenses9,822 
Total other (expenses) income, net(213)
Income tax expense (benefit)16,968 
Net income (loss)$(24,231)
Additions to property, plant and equipment$2,738 $— 
The following tables present additional segment information for the three months ended March 31, 2024 and a reconciliation to amounts on the Consolidated Statement of Operations.
SandSmartSystemsTotal
Revenue$79,719 $3,333 $83,052 
Segment cost of goods sold
Logistics costs$41,111 $— $41,111 
Production costs21,155 — 21,155 
Depreciation, depletion, and accretion of asset retirement obligations6,149 548 6,697 
Other costs552 1,726 2,278 
Total cost of goods sold$68,967 $2,274 $71,241 
Gross profit$10,752 $1,059 $11,811 
Total operating expenses11,027 
Total other (expenses) income, net(393)
Income tax expense (benefit)607 
Net income (loss)$(216)
Additions to property, plant and equipment$2,111 $248